If we increase taxes somewhat on the wealthy they will cease working hard, produce less and the tax revenues will decline. This assumes that the wealthy, the successful, will change into low achievers and stop trying if they earn less.
That's as simple minded as the assumption that bestowing benefits on the poor will change them into entrepreneurs and high achievers.
We can't change the nature of people simply with money incentives alone.
2 comments:
Since 47% of Americans who work pay no fed. income tax the burden falls on the rest, many of whom are wealthy enough to make adjustments so as to pay less taxes. An example are John and Teresa Kerry have combined wealth of more than one billion dollars and in 2003 paid an effective federal income tax rate of 12%.
We all try to minimize taxes and the wealthiest seem to do it best. Sound like liberal thinking to me. ;-)
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